POWERSHARES QQQ TRUST SENIOR 1 ETF (QQQQ) 43.44 -$0.22 (-0.50%) 09:46PM (15 mins delay)

Short the Market with These 19 ETF Option Strategies

Jul 08, 2009 - 7:23 AM EDT

Marco Hickey submits:

As recently charted in my blog post here, I believed (and still believe) the market is due for a correction. The chart is a clear head and shoulders pattern of the S&P 500 SPDR (SPY). Some of the ways I've been hedging my portfolio, is by using the leveraged short ETFs.

One strategy I've been using on these short ETFs is the Buy/Write option strategy, which hedges my overall portfolio on the downside, and gives me protection on the short position in case the market moves higher.

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Source: Seeking Alpha (Jul 08, 2009 - 7:23 AM EDT)